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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report - March 30, 2000
QNB CORP.
(Exact name of registrant as specified in its charter)
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PENNSYLVANIA 0-17706 23-2318082
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State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification Number)
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10 NORTH THIRD STREET
P.O. BOX 9005
QUAKERTOWN, PENNSYLVANIA 18951-9005
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(Address of principal executive offices) (Zip Code)
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Registrant's telephone number including area code:(215) 538-5600
N/A
(Former name or former address, if changed since last report)
Page 1 of 6 Sequentially Numbered Pages
Index to Exhibits Found on Page 4
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable.
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not Applicable.
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not Applicable.
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
Not Applicable.
ITEM 5. OTHER EVENTS.
On March 30, 2000, the Registrant's Board of Directors approved a plan
to repurchase up to 4.99% of the Registrant's shares of outstanding
common stock in open market or privately negotiated transactions; and,
on March 31, 2000, the Registrant issued a press release announcing the
plan, which press release is attached as Exhibit 99 hereto and
incorporated herein by reference.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not Applicable.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits:
99 Press Release, of Registrant, dated March 31, 2000,
re: Repurchase Program.
ITEM 8. CHANGE IN FISCAL YEAR.
Not Applicable.
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
QNB CORP.
(Registrant)
Dated: April 6, 2000 /s/ Thomas J. Bisko
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Thomas J. Bisko, President and
Chief Executive Officer
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EXHIBIT INDEX
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Page Number
Exhibit in Manually
Original Signed
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99 Press Release, dated March 31, 2000 of Registrant 6
re: Repurchase Program.
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EXHIBIT 99
PRESS RELEASE
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[QNB LOGO]
P.O. Box 9005
Quakertown, PA 18951-9005
TEL 215-538-5600
FAX 215-538-5765
www.QNB.com
FOR IMMEDIATE RELEASE
QNB CORP. COMMON STOCK REPURCHASE PROGRAM INITIATED
QUAKERTOWN, PA (31 March 2000) The Board of Directors of QNB Corp. is
pleased to announce the approval of a plan to purchase, in the open market and
privately negotiated transactions, up to 4.99% of its shares of outstanding
stock. In announcing the repurchase plan, Thomas J. Bisko, President and CEO
stated that the Board of Directors believes the opportunity to purchase QNB
Corp.'s common stock represents an attractive opportunity for QNB and its
shareholders in that it may increase the return on equity and net income per
share of the outstanding shares of common stock held by the shareholders. The
purchases are expected to be funded by using available excess capital.
QNB Corp. is the parent company of The Quakertown National Bank. QNB has assets
of approximately $355 million and six office locations serving Upper Bucks,
Southern Lehigh and Northern Montgomery Counties.
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Contact: Thomas J. Bisko
215-538-5612
